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on the debt ceiling or anything else? >> yes. whole books have been devoted to the debt ceiling and specifically, you know, the so-called grand bargain between speaker boehner and obama. it fell apart. a with all due respect to the authors of those stories and books, the bottom line is that speaker boehner never had the votes anyway. whatever deal he would have struck was with the obama administration and would almost certainly have failed and he would not have been able to get sufficient votes or he would have relied so heavily on democratic votes to do so that he would run the risk of indirection. in fact, this is detailed in my book that there was a meeting during the whole showdown over the debt ceiling in which some of speaker boehner's closest allies met in the office and said to him, if you come back with a deal that you fashioned with president obama doesn't get more than 100 votes or so, and eric cantor has already started to whisper a campaign against you, and we saw it happen with speaker newt gingrich and it can happe
on the debt ceiling or anything else? >> yes. whole books have been devoted to the debt ceiling and specifically, you know, the so-called grand bargain between speaker boehner and obama. it fell apart. a with all due respect to the authors of those stories and books, the bottom line is that speaker boehner never had the votes anyway. whatever deal he would have struck was with the obama administration and would almost certainly have failed and he would not have been able to get sufficient...
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gerri: to tht point, e have the debt ceiling looming. if we were to find a solution for the debt ceiling fro whetr it makes democrats or republicans happy, we have some kind of resolution on the fiscal cliff. if we were to do the debt ceiling and take care of sequestration, do you think employers will start hiing? >> the best we could do would be to come up with a credible long-term plan. gerri: credible long-term plan on capitol hill and the white house. are you kidding? >> u.s. you're right. the problem here is, between now and the end of february is everyone goin to say, well, here is a we need to do? are they going to agree on it? the republicans, i think, have corrected said we have done something on taxes. we raised it for everybody who works to raise taxes for those nasty rich folk. now cut spending in order to get on a gravel path to reduce he deficit. >> we enacted the greast tax cut in american history. 25 million new jobs. the american economy had confidence in president reagan. in what direction was going to be. that is what
gerri: to tht point, e have the debt ceiling looming. if we were to find a solution for the debt ceiling fro whetr it makes democrats or republicans happy, we have some kind of resolution on the fiscal cliff. if we were to do the debt ceiling and take care of sequestration, do you think employers will start hiing? >> the best we could do would be to come up with a credible long-term plan. gerri: credible long-term plan on capitol hill and the white house. are you kidding? >> u.s....
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Jan 10, 2013
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the federal government has already hit the debt ceiling. and the only way the government can pay its bills is by using accounting gimmicks to move money around. those tricks will only get the government through mid-february. at that point lew might have to take the unprecedented step of deciding he has the legal authority to pick and choose which bills the feds will pay. >> even if it were clear that the treasury secretary could do that, pick and choose, the ability, the real ability to reprogram all of the software in treasury's computers which connect to all of the computer software in the various agencies is not something that can be done in ten minutes or ten days or ten weeks. so you have the right to do it, but you don't have the ability to do it. >> reporter: the treasury uses a separate computer system to make interest payments on the federal debt so it is possible investors would get what they are owed. but what happens with social security, medicare and federal employee pay, is less clear. so secretary lew would have to make a dec
the federal government has already hit the debt ceiling. and the only way the government can pay its bills is by using accounting gimmicks to move money around. those tricks will only get the government through mid-february. at that point lew might have to take the unprecedented step of deciding he has the legal authority to pick and choose which bills the feds will pay. >> even if it were clear that the treasury secretary could do that, pick and choose, the ability, the real ability to...
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seven debt ceiling raises. white was just sort of -- everyone understood it would get raised and it was a time to remind people how big the debt was and nobody really took it seriously, press release. it was useful for that. once people started taking it seriously and said we are going to think about not paying the debt it bill absurd and it is -- it is absurd and it needs to be -- needs to go away or congress just needs to understand that that's the only use of it. a coin isn't going to solve that problem. looking at a darn corners of the constitution will not solve that problem. >> what is -- you know, the problem -- that -- republicans seem to have is it the leadership sort of knows that they really shun be playing politics of the debt ceiling. but the rank and file, they don't want any part of that. they want to play politics. >> this is the problem. this is my problem with people who are spending a lot of time, smart people. friends of ours who are spending a lot of time talking about the kooky ideas. you
seven debt ceiling raises. white was just sort of -- everyone understood it would get raised and it was a time to remind people how big the debt was and nobody really took it seriously, press release. it was useful for that. once people started taking it seriously and said we are going to think about not paying the debt it bill absurd and it is -- it is absurd and it needs to be -- needs to go away or congress just needs to understand that that's the only use of it. a coin isn't going to solve...
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the federal government has already hit the debt ceiling. and the only way the government can pay its bills is by using accounting gimmicks to move money around. those tricks will only get the government through mid-february. at that point lew might have to take the unprecedented step of deciding he has the legal authority to pick and choose which bills the feds will pay. >> even if it were clear that the treasury secretary could do that, pick and choose, the ability, the real ability to reprogram all of the software in treasury's computers which connect to all of the computer software in the various agencies is not something that can be done in ten minutes or ten days or ten weeks. so you have the right to do it but you don't have the ability to do it. >> reporter: the treasury uses a separate computer system to make interest payments on the federal debt so it is possible investors would get what they are owed. but what happens with social security, medicare and federal employee pay, is less clear. so secretary lew would have to make a deci
the federal government has already hit the debt ceiling. and the only way the government can pay its bills is by using accounting gimmicks to move money around. those tricks will only get the government through mid-february. at that point lew might have to take the unprecedented step of deciding he has the legal authority to pick and choose which bills the feds will pay. >> even if it were clear that the treasury secretary could do that, pick and choose, the ability, the real ability to...
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we're going to see the debt ceiling now present itself. are we going to see an ugly repetition was a debacle in 2011 that cost investors, the market cap number, but somewhere around a tri trillion dollars, we don't need any more of that. >> no, but at the end of the day there will be more fights, this is where we are as a nation. when you are 16.5 trillion in debt we'll have fights like this, i best compare it to a marriage that husband and wife go deep into debt, creditors call, and they start fighting as a couple. we see millions of couples in america break up because they are in too much debt, they fight about it the house and senate look a lot like america in the fighting we have about we understand we have too much debt, we understand we have too much spending but battle is where do you cutback. no single vote will fix this. lou: but if there is any more of the irresponsible nonsense over a debt ceiling, independence and democrats and many conservatives will be disenchanted with the republican party. i think you have to began kid and
we're going to see the debt ceiling now present itself. are we going to see an ugly repetition was a debacle in 2011 that cost investors, the market cap number, but somewhere around a tri trillion dollars, we don't need any more of that. >> no, but at the end of the day there will be more fights, this is where we are as a nation. when you are 16.5 trillion in debt we'll have fights like this, i best compare it to a marriage that husband and wife go deep into debt, creditors call, and they...
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we told you how republicans are out about the way the debt ceiling works. today we saw the next phase of their misinformation campaign. tea party ron johnson went on msnbc this morning and hammered the president when it comes to spending cuts. >> president obama and the democrats have no intention. as a result, they have no plan to reduce the deficit, to reduce government's control in our lives. this isn't going to go away. we're not going to solve this thing, unfortunately, because president obama has no intention of solving it. hasn't given us a plan. this is going to go on time and time and time again. >> all right. let's be clear what republicans are talking about when they say spending cuts. they want major cuts to the big three, medicare, medicaid and social security. if overall spending was the issue, there wouldn't be a problem. president obama already signed the 2011 budget control act, which included $1.7 trillion in government spending cuts. in reality, the best plan to reduce the deficit comesro
we told you how republicans are out about the way the debt ceiling works. today we saw the next phase of their misinformation campaign. tea party ron johnson went on msnbc this morning and hammered the president when it comes to spending cuts. >> president obama and the democrats have no intention. as a result, they have no plan to reduce the deficit, to reduce government's control in our lives. this isn't going to go away. we're not going to solve this thing, unfortunately, because...
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two more problems coming up, the debt ceiling. and just this week people are getting paychecks for the first time that include that 2 percent increase in apparel tax. what the people make of this? >> a lot of people will be shocked because they remember the president saying, f you make less than $250,000 i guarantee you won't pay one more dime in taxes. well, they're paying lots of times and increased tax. a person making tricky thousand dollars is pro we going to be on the cross $1,600 additional money. if you're making 50,000, you don't have $1,600 of disposable income to give the government so they can waisted and borrow more money. it's going to it people hard. add to that the obamacare tax and then what states and local governments to doing. the economy will be in a world of hurt this year. gerri: and we can have a big tax resolution. the point that people really start seeing the impact of this, they may go with their feet and make calls to congress. who knows what's going to happen >> i do think that there is going to be a r
two more problems coming up, the debt ceiling. and just this week people are getting paychecks for the first time that include that 2 percent increase in apparel tax. what the people make of this? >> a lot of people will be shocked because they remember the president saying, f you make less than $250,000 i guarantee you won't pay one more dime in taxes. well, they're paying lots of times and increased tax. a person making tricky thousand dollars is pro we going to be on the cross $1,600...
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to be a part of the debt ceiling debate. spending cuts must be balanced with reforms to our tax code. the wealthest and biggest corporations shouldn't take of loop holes and deductions. it is settled when they raised taxes on the rich . now they want to focus on spending cuts . they are likely to have more leverage . the if the is democrats refuse to take a meaningful statement to make washington live within its mean. that fails to acknowledge what every family knows. when you have no more money in the account and credit cards are maxed stop. that made employers less likely to hire. we can't afford that uncertain ty even with the threat of a default. it could trigger a global recession . >> tomorrow on fox news sunday. john roberts with chris wallace . his guest republican jim jordan from ohio and democratic chris van hollen. check your time for times. >> fox news confirms that and it is chuck haggerty. and james rosen has this report. >> jamie, good evening. two democratic sources confirm to ed henry late yesterday that pre
to be a part of the debt ceiling debate. spending cuts must be balanced with reforms to our tax code. the wealthest and biggest corporations shouldn't take of loop holes and deductions. it is settled when they raised taxes on the rich . now they want to focus on spending cuts . they are likely to have more leverage . the if the is democrats refuse to take a meaningful statement to make washington live within its mean. that fails to acknowledge what every family knows. when you have no more...
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we're gonna raise it most likely, the debt ceiling. we'll probably see a lot of discussion from the rating agencies with our ability to pay on that. and as a result of it, and what it comes back to our wallet, is that is also going to be inflationary because of our credit rating drops, that means we're going to have to go out and actually pay more money on the interest because there is going to be greater risk on our bonds, which means there will be less money in the economy and we'll see a ripple effect. bottom line, hyper inflation maybe, but definitely rising prices, less money in our pockets. >> okay. i think we're trying to -- starting to get it back to where i wanted to get with you, which is talk more about what this is going to mean for the average person at home and when we talk about credit ratings and credit histories, we all have our own credit ratings that we have to worry about that we try to maintain a good credit history and a good standing with potential lenders out there. so what does it mean, if i pay all of my bills
we're gonna raise it most likely, the debt ceiling. we'll probably see a lot of discussion from the rating agencies with our ability to pay on that. and as a result of it, and what it comes back to our wallet, is that is also going to be inflationary because of our credit rating drops, that means we're going to have to go out and actually pay more money on the interest because there is going to be greater risk on our bonds, which means there will be less money in the economy and we'll see a...
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cause them to downgrade america's debt rating as standard & poors did after 2011's debt ceiling battle. after using all of the cards in his hand in the last round of poker, what does president obama have left to bargain with? joining me now is congressman peter welch democrat from vermont. thanks for joining us. >> thank you. >> eliot: you were a cliff jumper as we call you saying let's go over the cliff until shortly before the vote was taken. what persuaded you to change your mind on that issue? >> well, it was as good a deal as we could get. i was disappointed on the revenues and if we went over the cliff, i think our prospect on
cause them to downgrade america's debt rating as standard & poors did after 2011's debt ceiling battle. after using all of the cards in his hand in the last round of poker, what does president obama have left to bargain with? joining me now is congressman peter welch democrat from vermont. thanks for joining us. >> thank you. >> eliot: you were a cliff jumper as we call you saying let's go over the cliff until shortly before the vote was taken. what persuaded you to change your...
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we have government shut downs and debt ceilings. vice president sebiden is meeti with the nra and senator feinstein wants to ban handguns the kudlow report begins right now. >> cnbc contributor jared bernstein. i can't think of a single reason why they have to put in such an unstring wi undistinguished person in such an important spot. >> i take issue with that. you have to take into consideration issues, but i will say when it comes to one of the most important jobs of the treasury secretary, which is managing the budget, you can't have a better guy than jack lu. you can talk a lot about it. >> that is where i disagree. this is not, hang on a second. i'm going to give jimmy a whack at this. this is not the director of the office of managing the budget. that is where i used to work. this is about financial matters. this is about guys who know what goes on at the world's financial capitol. this is about guys who used to look after the currency and about guys who are going to have to deal with republicans over the debt ceiling and acc
we have government shut downs and debt ceilings. vice president sebiden is meeti with the nra and senator feinstein wants to ban handguns the kudlow report begins right now. >> cnbc contributor jared bernstein. i can't think of a single reason why they have to put in such an unstring wi undistinguished person in such an important spot. >> i take issue with that. you have to take into consideration issues, but i will say when it comes to one of the most important jobs of the treasury...
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hitting debt ceiling doesn't do it. >> we have go different issues. one is the debt ceiling. the second is the sequester. doug is right, debt ceiling expiring doesn't automatically cut spending but the sequester does. cuts across the board manner, social security, medicare and medicaid are exempted. deep cuts into the military and discretionary spending will go into effect. those things will happen simultaneously and force people back into the bargaining table to come up with at least a temporary patch. melissa: solving the problem in the long run is the real problem we have. governor, how do we deal with that? this is fundamental disagreement between two groups of people one side believes the government should get larger and have a bigger role and needs more revenue to do that the other side thinks we need to shrink government. those are so diametrically opposed points of view. i don't know how even though we're at this crisis point how do you resolve that fundamentally different point of view? >> well, look that different point of view has been going on since, you know, ham
hitting debt ceiling doesn't do it. >> we have go different issues. one is the debt ceiling. the second is the sequester. doug is right, debt ceiling expiring doesn't automatically cut spending but the sequester does. cuts across the board manner, social security, medicare and medicaid are exempted. deep cuts into the military and discretionary spending will go into effect. those things will happen simultaneously and force people back into the bargaining table to come up with at least a...
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not be on the table. >> debt ceiling is a separate issue. the bottom line is congress incurs bills, they have to be paid, and the debt ceiling is not going to be a component of these negotiations. >> so now president and the democrats need to make sure that they hold the line. liberals want him to do just that. president obama already has a mechanism in place to engage americans. he can go directly to the american people. the president already plans to use the bully pulpit of his state of the union address to make the case. he's also pushing forward with other reforms like immigration. administration officials do not want the president's second term to be sidelined by a financial brawl. but while the president engages republicans on other legislative agendas, the country needs to stay invested in this economic fight on capitol hill. democrats and progressives, they know this fight. they did it well in the 2012 campaign. they fought hard during the fiscal cliff fight and won that. clearly. this is basically the start of a new campaign. if you
not be on the table. >> debt ceiling is a separate issue. the bottom line is congress incurs bills, they have to be paid, and the debt ceiling is not going to be a component of these negotiations. >> so now president and the democrats need to make sure that they hold the line. liberals want him to do just that. president obama already has a mechanism in place to engage americans. he can go directly to the american people. the president already plans to use the bully pulpit of his...
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an opening for the president to raise the debt ceiling without congress saying a peep. now, we couldn't get lincoln and we couldn't get nancy but we did get danny as an illinois democratic congressman danny davis who is fine with all of this. good to have you. thanks for coming. >> well, thank you very much. you know, i agree that lincoln was a bold president and he made some bold and tough decisions and that is why many people think he was one of the best presidents we ever had. >> neil: i would agree he but i would -- i would hasten to add i don't think he would be onboard with playing games with constantly raising the debt ceiling, do you? >> i don't think that we are are constantly raising it but i do believe and i agree with -- >> neil: well, we have done it 52 times in the post war period, right? >> we have done it but we always paid our debts and we don't quibble about paying debts. it is something that we know we have to do. we make them and we must pay them. >> neil: congress appropriates the funds and you can't come back later on and say we are not paying. i d
an opening for the president to raise the debt ceiling without congress saying a peep. now, we couldn't get lincoln and we couldn't get nancy but we did get danny as an illinois democratic congressman danny davis who is fine with all of this. good to have you. thanks for coming. >> well, thank you very much. you know, i agree that lincoln was a bold president and he made some bold and tough decisions and that is why many people think he was one of the best presidents we ever had. >>...
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president obama insist that is congress must lift the debt ceiling. the president said the nation's credit rating is at stake . the second bank robber recaptured after a prison break makes his first court appearance. he could face five years behind bars . mediator in the nhl labor fight is back. both sides have less than a week to end the lock out. recovery crews are preparing to move a drilling rig that ran aground in the remote alaska island. it was towed during a storm to seattle when it was separated from the tow lines. crews are gearing up to attempt to recover the rig. dominic is track from the la news room. >> hey, there. describing it as firm's agrounded drill ship on the rocky banks. on the islands that is just south and means seriously stuck and how to get it out of the water is a massive plan. it involved sea and air and land operations. the risk is more bad weather is coming in the area it could mean hostile conditions . today they flew in more crewing to fix the power on the rig. their lives are at risk in doing this. >> so many people in
president obama insist that is congress must lift the debt ceiling. the president said the nation's credit rating is at stake . the second bank robber recaptured after a prison break makes his first court appearance. he could face five years behind bars . mediator in the nhl labor fight is back. both sides have less than a week to end the lock out. recovery crews are preparing to move a drilling rig that ran aground in the remote alaska island. it was towed during a storm to seattle when it was...
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especially when the up coming negotiations are coming with the debt ceiling. with social security, and medicare, those are big serious ideological spaces for the liberals so i think you will see the ways in which their unhappiness with the president will manifest with how the negotiations take place. that is no question that liberals feel that the gave in? >> don't they always feel that? >> and that the white house compromised, the i think the liberals were the aaccused of being the professional left. there's a concern on how the seniors, when we think of social security and medicare, how they are going to do. given that the republicans have articulated the idea that they are coming for blood. >> the president sacrifice his upper hand? did he act fight by not including the debt ceiling fight in the past deal? >> i don't think so. when you talk to democrats and republicans on capitol hill, democrats especially are positive that republicans gave in on the tax deal. so the president played a good hand, but not the best he had, he came out with republicans bucklin
especially when the up coming negotiations are coming with the debt ceiling. with social security, and medicare, those are big serious ideological spaces for the liberals so i think you will see the ways in which their unhappiness with the president will manifest with how the negotiations take place. that is no question that liberals feel that the gave in? >> don't they always feel that? >> and that the white house compromised, the i think the liberals were the aaccused of being the...
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with the debt ceiling if you don't have authority, what do you do? you stop paying bills if you're the federal government. you stop sending checks to your suppliers-- >> that hurts the one who made that possible. >> well, in the short run you -- the hospitals don't get reimbursed for their medicare expenses. >> neil: that's the vice that democrats have republicans in, they're afraid of their own shadow. what's to spell democrats for serious spending cuts if they think that republicans are afraid of even a hint-- >> i think what helps, every expert in washington agrees that the long-term entitlement. >> neil: no doubt. >> changed. >> neil: a lot of american people seem to -- they're far happier with raising taxes on the rich. but what the president says, aim he not going to change social security in the context of improving the budget. i will do it to strengthen social security so the rhetoric will move in that direction. >> neil: but that means it has to be truthful. >> well, basically, the kind of things that the republicans talked about a little bi
with the debt ceiling if you don't have authority, what do you do? you stop paying bills if you're the federal government. you stop sending checks to your suppliers-- >> that hurts the one who made that possible. >> well, in the short run you -- the hospitals don't get reimbursed for their medicare expenses. >> neil: that's the vice that democrats have republicans in, they're afraid of their own shadow. what's to spell democrats for serious spending cuts if they think that...
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they face huge challenges: fights over the sequester and the debt ceiling coming around march first. and as sylvia hall reports, there are low expectations lawmakers can get the job done peacefully. >> reporter: returning lawmakers didn't get much of a break after that bruising fiscal cliff battle. they're back in washington today, swearing in the new congress. demographically, it's the most diverse group ever sworn in. but politically, this congress is expected to deliver the same gridlock as the last one. >> the problem is that the congress is very divided, not only are the two houses divided, but each party is further away from the middle than has been in the past, and the public- the american public itself, is very divided. >> reporter: they'll start the year by tackling some big issues left over from last session. first in the house, a bill to help victims of superstorm sandy. house speaker john boehner nixed the vote in the last hours of 2012, drawing a firestorm of criticism. it comes up in the house in two parts- the first tomorrow, and the other mid-january. >> the next act
they face huge challenges: fights over the sequester and the debt ceiling coming around march first. and as sylvia hall reports, there are low expectations lawmakers can get the job done peacefully. >> reporter: returning lawmakers didn't get much of a break after that bruising fiscal cliff battle. they're back in washington today, swearing in the new congress. demographically, it's the most diverse group ever sworn in. but politically, this congress is expected to deliver the same...
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might be crashing through the debt ceiling soon and that we thought. for more honest and republican congressman james langford of obama. welcome back to the show. always good to see you. >> thank you. glad to be with you. gerri: the cbo is saying that we are on track to rack up our fifth year of a trillion dollar plus debt, and already deficits and this year alone the fiscal year alone, $2,903,000,000,000 in deficits just in this first quarter. tell me, can the american people trust congress to fix this problem with a -- fix the fiscal cliff and deal with the debt ceiling? >> the fiscal clefted not fix the debt, and that was the big debate during the fiscal of conversation. is this affecting tax policy or is this about trying to pixar debt and deficit. there was a group that said let's fix the tax policy in deal with the deficit later. as supporters sang, we must deal with the debt and deficit which is the bigger issue. gerri: you voted against it. >> i did. gerri: what can we do about this? what can we do about this? >> well, we have three things. peo
might be crashing through the debt ceiling soon and that we thought. for more honest and republican congressman james langford of obama. welcome back to the show. always good to see you. >> thank you. glad to be with you. gerri: the cbo is saying that we are on track to rack up our fifth year of a trillion dollar plus debt, and already deficits and this year alone the fiscal year alone, $2,903,000,000,000 in deficits just in this first quarter. tell me, can the american people trust...
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deal with the debt ceiling? >> the fiscal cliff did not fix the debt. is this tax policy or fixing in debt and deficit? and but i was a big supporter to say we got it deal with debt and deficit. >> you voted against the fiscal cliff? >> we have three saying scram together by the senate and the presidency. the debt ceiling, and the sequestration also a continuing resolution. of three moments are a good moment to do with spending but they are very different. sequestration is we will cut spending $100 billion. >> what i asked is can we trust congress to do the right thing when it comes to the debt ceiling? seventy-seven% of the people say washington d.c. is hurting the nation. folks are on to the game how likely is you can solve the debt ceiling issue and also save money? >> that will complete the depend on everybody coming to the table. we have the senate that things one thing in the house that thinks something different to. and tell there on the same page it is tough. the senate has not passed a budget in four years? it makes it difficult to do a budget
deal with the debt ceiling? >> the fiscal cliff did not fix the debt. is this tax policy or fixing in debt and deficit? and but i was a big supporter to say we got it deal with debt and deficit. >> you voted against the fiscal cliff? >> we have three saying scram together by the senate and the presidency. the debt ceiling, and the sequestration also a continuing resolution. of three moments are a good moment to do with spending but they are very different. sequestration is we...
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and then say you don't want to raise the debt ceiling. you can't make those match. >> what's going on? you make a very good point. what's the ideology behind those folks? >> well, it is ideology, but also just -- essentially extortion. what they are trying to do, and been trying to do this, use the debt ceiling or basically black mail leverage they have to strip the social safety net in the country, to privatize social security, privatize medicaid, medica medicare. ith not about fiscal sanity. we can reach fiscal sanity. we have been working very well toward that. but this is all about ideology and philosophy. >> you called speaker boehner courageous for sending the fiscal cliff bill to the floor. you know speaker boehner saw republican defections in the speaker vote this week, he has favored heavy criticism from tea partiers and others. do you suspect similar courage from boehner in the weeks ahead? >> i think he wants to be krajuous. it's really horrible when an example of bipartisanship causes such consternation in one party. boehner w
and then say you don't want to raise the debt ceiling. you can't make those match. >> what's going on? you make a very good point. what's the ideology behind those folks? >> well, it is ideology, but also just -- essentially extortion. what they are trying to do, and been trying to do this, use the debt ceiling or basically black mail leverage they have to strip the social safety net in the country, to privatize social security, privatize medicaid, medica medicare. ith not about...
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Jan 4, 2013
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they face huge challenges: fights over the sequester and the debt ceiling coming around march first. and as sylvia hall reports, there are low expectations lawmakers can get the job done peacefully. >> reporter: returning lawmakers didn't get much of a break after that bruising fiscal cliff battle. they're back in washington today, swearing in the new congress. demographically, it's the most diverse group ever sworn in. but politically, this congress is expected to deliver the same gridlock as the last one. >> the problem is that the congress is very vided, not only are the two houses divided, but each party is further away from the middle than has been in the past, and the public- the american public itself, is very divided. >> reporter: they'll start the year by tackling some big issues left over from last session. first in the house, a bill to help victims of superstorm sandy. house speaker john boehner nixed the vote in the last hours of 2012, drawing a firestorm of criticism. it comes up in the house in two parts- the first tomorrow, and the other mid-january. >> the next act wi
they face huge challenges: fights over the sequester and the debt ceiling coming around march first. and as sylvia hall reports, there are low expectations lawmakers can get the job done peacefully. >> reporter: returning lawmakers didn't get much of a break after that bruising fiscal cliff battle. they're back in washington today, swearing in the new congress. demographically, it's the most diverse group ever sworn in. but politically, this congress is expected to deliver the same...
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Jan 6, 2013
01/13
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we raise the debt ceiling in 2 months. we have to have a true debate, in the house and the senate. we can't let the senate go through this process without a debate before the american people about the real issues, that's the drive about the deficit and the debt. that turnover concerns me and a lot of constituents. >> americans are hoping that the interest rates stay low because our problems will be vastly exacerbated if they don't. appreciate you both appearing today. >> thank you. >> are we sharing a little too much? the pictures you take with your smart phones tell more than a thousand words. it can tell your location and anybody else your location, the exact address where the picture's taken. you can't afford to miss this, coming up. i gave birth to my daughter on may 18th, five days later, i had a massive heart attack. bayer aspirin was the first thing the emts gave me. now, i'm on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. [ woman ] learn from my sto
we raise the debt ceiling in 2 months. we have to have a true debate, in the house and the senate. we can't let the senate go through this process without a debate before the american people about the real issues, that's the drive about the deficit and the debt. that turnover concerns me and a lot of constituents. >> americans are hoping that the interest rates stay low because our problems will be vastly exacerbated if they don't. appreciate you both appearing today. >> thank you....
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Jan 9, 2013
01/13
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the debt ceiling fix that fits in your pocket. and the new year's dish that will definitely break the bank. >>> plus, could your favorite drink be making you feel lousy? you're watching "early today." is >> here are some of the stories we're watching for you. the united nations says about 1 million syrians are going hungry because of difficulties getting supplies into conflict zones. the u.n.'s world food program is handing out rations to about 1.5 million people in syria every month, but 1 million more are still in need. >>> in australia, more than 130 fires are burning near sydney in new south wales. and authorities are warning of a catastrophic fire threat. more than 40 of the fires are burning out of control. temperatures may hit 109 degrees fahrenheit today. it is summer there. those extreme temperatures have forced australia's weather bureau to add new colors to its heat map. deep purple there, that's for temperatures up from 122 to 125 degrees. and magenta is for temperatures up to 129.2. wow. >> national cathedral in washi
the debt ceiling fix that fits in your pocket. and the new year's dish that will definitely break the bank. >>> plus, could your favorite drink be making you feel lousy? you're watching "early today." is >> here are some of the stories we're watching for you. the united nations says about 1 million syrians are going hungry because of difficulties getting supplies into conflict zones. the u.n.'s world food program is handing out rations to about 1.5 million people in...
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Jan 5, 2013
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the president has an inflexible demand of his own-- no negotiations over raising the debt ceiling. the grand stage at the capitol nearly complete, so, too, the presidential reviewing stand just outside the white house gate. the first family's hawaiian vacation, carved up by fiscal cliff drama ends today. the president used his weekly address to tell the nation raising the debt ceiling to avoid a government default is a problem for congress. >> one thing i will not compromise over is whether or not congress should pay the tab fair bill they've already racked up. if congress refuses to give the united states the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic. >> reporter: top advisers say the president will never again, as he did in 2011, get pulled into that debate. but republicans want a fight, tying the debt ceiling to spending cuts required by the fiscal cliff. >> we're crushing today's small business and the next generation of americans under a mountain of debt. >> reporter: they see an opening at the end of february when t
the president has an inflexible demand of his own-- no negotiations over raising the debt ceiling. the grand stage at the capitol nearly complete, so, too, the presidential reviewing stand just outside the white house gate. the first family's hawaiian vacation, carved up by fiscal cliff drama ends today. the president used his weekly address to tell the nation raising the debt ceiling to avoid a government default is a problem for congress. >> one thing i will not compromise over is...
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Jan 4, 2013
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we'll have another debt ceiling fight. we may end up with something in total close to to what simpson-bowles proposed. >> i think that would be good for the frunt. austan, thanks so much. >>> they stay submerged for months at a time in tight quarters without even seeing the sun. serving on u.s. submarines is a new role for female sailors. we'll spend some time with one of them. bright students are getting lost in the shuffle. and administration's work gets more complex every year. when you look at these issues, do you see problems or opportunities? with an advanced degree in education from capella university, you'll have the knowledge to meet these challenges and make a difference in the lives of students. let's get started at capella.edu. >>> women in the military are definitely making strides under water. cnn's pentagon correspondent chris lawrence talks to an officer who's on track to become the navy's first female submarine commander. >> reporter: it's a new frontier for female sailors. submerged for months, no sun, no
we'll have another debt ceiling fight. we may end up with something in total close to to what simpson-bowles proposed. >> i think that would be good for the frunt. austan, thanks so much. >>> they stay submerged for months at a time in tight quarters without even seeing the sun. serving on u.s. submarines is a new role for female sailors. we'll spend some time with one of them. bright students are getting lost in the shuffle. and administration's work gets more complex every...
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Jan 11, 2013
01/13
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ceiling, that is, if republicans don't agree to raise the debt ceiling. they would like the president to do almost anything he can, including what -- apparently what they call the constitutional option which is the 14th amendment in which the president would simply say that it's unconstitutional not to honor the nation's debt and simply refuse to go along with the debt ceiling itself. maria? >> all right. eamon, thanks very much. >> howard, given what eamon just reported and the fact that you made the statement that we need to cut spending a lot with the emif a sis on a lot, it doesn't sound like the president isn't ready to listen to you. >> when they did the fiscal cliff deal which was a relative nothing, raised a lot of taxes and didn't cut any spending. >> exactly. >> so when they did that deal, they kicked the cuts -- the cuts in the pentagon and the human services $1.2 trillion down the road for two months, so there may yet be a ton of spending cuts. that's what i'm hoping for, and i think -- i think the suggestion that there's got to be some signif
ceiling, that is, if republicans don't agree to raise the debt ceiling. they would like the president to do almost anything he can, including what -- apparently what they call the constitutional option which is the 14th amendment in which the president would simply say that it's unconstitutional not to honor the nation's debt and simply refuse to go along with the debt ceiling itself. maria? >> all right. eamon, thanks very much. >> howard, given what eamon just reported and the...
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all i can think about ithe debt ceiling debate and we saw 2000 points stripped off without. what you think? >> well, it could be a real problem. the last big one we had was 1995, 1996, that was certainly a disaster for me publican sampling. it is not the right way to do things. it's a stupid way of trying to manage the buget. >> i couldn't agree with you more. the fact is this house of representatives is the last vestige of republicanism as when it comes to power in washington right now. i think their expectations are significantly well beyond the reality is what they can accompli, or am i wrong? >> the house of representatives has originate all spending cuts. lou: another 4 trillion over the course of the next 10 years. 22 trillion at the end of obama's time in office, we are going to be looking at $26,000 in debt. thank you, mr. obama. >> the basic point is that the american people know that we have to have cutbacks in entitlement programs. lou: let's set aside the european tax rates. [talking over each other] lou: let me ask you this. if you don't think that the republica
all i can think about ithe debt ceiling debate and we saw 2000 points stripped off without. what you think? >> well, it could be a real problem. the last big one we had was 1995, 1996, that was certainly a disaster for me publican sampling. it is not the right way to do things. it's a stupid way of trying to manage the buget. >> i couldn't agree with you more. the fact is this house of representatives is the last vestige of republicanism as when it comes to power in washington right...
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Jan 12, 2013
01/13
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a new way to avoid the debt ceiling. hear what senate democrats are telling the president to do today. >>> fighting the flu. the illness has now reached epidemic levels in the u.s. is it slowing down? >>> signature moment. how comics are taking on jacob lew's unique, to say the least, scrawl of his name. good morning, everyone. welcome to "weekends with alex witt." what's happening out there. after meeting with the president of afghanistan, president obama sharing new details this morning on how he plans to end the u.s. involvement there. >> this remains a very difficult mission, the work ahead will not be easy. our forces are still in harm's way. but make no mistake, our path is clear, and we are moving forward. because after a decade of war, the nation we need to rebuild is our own. >> kristen welker is at the white house. a very good start morning to you. let's talk about the details that the president revealed about the future role of the u.s. in afghanistan. >> good morning to you, alex. the big headline that came o
a new way to avoid the debt ceiling. hear what senate democrats are telling the president to do today. >>> fighting the flu. the illness has now reached epidemic levels in the u.s. is it slowing down? >>> signature moment. how comics are taking on jacob lew's unique, to say the least, scrawl of his name. good morning, everyone. welcome to "weekends with alex witt." what's happening out there. after meeting with the president of afghanistan, president obama sharing...
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Jan 9, 2013
01/13
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up next, will president obama try a political end-around congress on the debt ceiling? humans. even when we cross our t's and dot our i's, we still run into problems. namely, other humans. which is why at liberty mutual insurance, auto policies come with new car replacement and accident forgiveness if you qualify. see what else comes standard at libertymutual.com. liberty mutual insurance. responsibility. what's your policy? ♪ ♪ we're lucky, it's not every day you find a companion as loyal as a subaru. love. it's what makes a subaru, a subaru. >> bret: 11 people were hurt when a commuteer ferry slammed in a dock in the financial district. it happened at the pier in southern manhattan. 330 passengers and crew were aboard the ferry. around 50 suffered minor injuries. no word yet on the 'cause. police say the ferry crew passed alcohol-breath tests. house democrats throw out the first jab in what is expected to be a political fistfight over the debt ceiling. the president has the authority to circumvent congress and raise the bar rowing limit on its own. -- wor rowing limit on
up next, will president obama try a political end-around congress on the debt ceiling? humans. even when we cross our t's and dot our i's, we still run into problems. namely, other humans. which is why at liberty mutual insurance, auto policies come with new car replacement and accident forgiveness if you qualify. see what else comes standard at libertymutual.com. liberty mutual insurance. responsibility. what's your policy? ♪ ♪ we're lucky, it's not every day you find a companion as loyal...
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Jan 4, 2013
01/13
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president obama has promised not to negotiate with the new congress on raising the debt ceiling, but republicans are ready to use it to force major federal spending reforms and tame the national debt. right now, the u.s. owes $16 trillion, but some calculate our total liabilities much higher. and as congress jumps from small deal to small deal as they have been, analysts worry big problems are just getting bigger. >> $60 trillion is a conservative estimate of our unfunded liabilities of medicare social security, and medicaid put together. that's scary. and, the fact of the problem of $2 trillion solutions to $60 trillion problems, you see the occasion of the lack of problem and resolve of the political class here in washington. >> reporter: some also worry the down-to-the-wire theatrics of these fiscal debates in washington will overshadow other issues that need to be addressed, like education and immigration reform. issues that could be held hostage until the spending fights are over. sylvia hall, "n.b.r.," washington. >> tom: other changes could soon be in store for washington: tre
president obama has promised not to negotiate with the new congress on raising the debt ceiling, but republicans are ready to use it to force major federal spending reforms and tame the national debt. right now, the u.s. owes $16 trillion, but some calculate our total liabilities much higher. and as congress jumps from small deal to small deal as they have been, analysts worry big problems are just getting bigger. >> $60 trillion is a conservative estimate of our unfunded liabilities of...
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Jan 10, 2013
01/13
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let's move on to a our debt and our nation's crisis with the debt ceiling. we default on february 15th. happy valentine's day. doug come -- doug, do you think we will avoid this or have big problems? >> at think the answer is simple. we don't have a fight or a crisis over the debt ceiling. we have a fight in crisis overspending that causes debt. if the spending or cut and there was an agreement but place on the way to rein in explosive and -- entitlement spending and brought the debt under control, no one would even mention the debt ceiling. the key will be to focus on the real problem, which is the debt. acknowledge solution for anyone not living in budgetary fantasyland. make some progress on that. gerri: at think it's budget fantasyland for us. well, the senate has not backed the budget in 1,351 days, gretchen. come on. we are going to -- our debt is going to get downgraded by standard and poor's and moody's and everyone else, and we will have a sell-off of 2,000 points in the stock market, right? >> you're right. on top of not having a budget, we have al
let's move on to a our debt and our nation's crisis with the debt ceiling. we default on february 15th. happy valentine's day. doug come -- doug, do you think we will avoid this or have big problems? >> at think the answer is simple. we don't have a fight or a crisis over the debt ceiling. we have a fight in crisis overspending that causes debt. if the spending or cut and there was an agreement but place on the way to rein in explosive and -- entitlement spending and brought the debt...
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Jan 9, 2013
01/13
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we will not negotiate over raising the debt ceiling. as the president said, he has demonstrated repeatedly that he is willing to compromise when it comes to moving forward with deficit reduction. we obviously because of the sequester and the cr and other issues have economic, budgetary, and fiscal challenges that we need to confront, and that requires discussion and negotiation with congress. but he will not negotiate over the fundamental responsibility that only congress has to raise the debt ceiling. and if that is a responsibility that is just too onerous for them to bear, they should pass it off to the president as they did previously. he will not negotiate over raising the debt ceiling. this is not -- were not going to play a hostage-situation game where the economy of the united states and the world suffers because of an insistence on a political agenda by one party and one house of congress -- or one party in both houses of congress. >> so if none of those things happens, and then -- so it's kind of a game of chicken -- and then
we will not negotiate over raising the debt ceiling. as the president said, he has demonstrated repeatedly that he is willing to compromise when it comes to moving forward with deficit reduction. we obviously because of the sequester and the cr and other issues have economic, budgetary, and fiscal challenges that we need to confront, and that requires discussion and negotiation with congress. but he will not negotiate over the fundamental responsibility that only congress has to raise the debt...
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Jan 5, 2013
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the president's going to have to raise it, and the debt ceiling is not the problem. the problem is the debt and the spending that's driving the debt. and so the number one thing is to avoid, "a," the notion that speaker boehner can trot down to the white house and somehow we can solve the nation's problems or, "b," that we want do this at the 11th hour at all. instead we want our congress and our president to do their job. and i for one believe that in moments like this, presidential leadership is an imperative. but the president doesn't want to put a plan out, and he's shown no appetite for taking on this problem. then the house should pass something, and the senate needs to act. all right, robert. >> they have not had the senate pass anything in years. >> robert, shouldn't the president be the one that comes out with a plan and says this, look, i'm so sick of this petty, stupid, sandbox unpleasantness rather than the word i would prefer to use there, i'm sick of it, and so i'm going to put out, here's my plan. >> yes. erin, the president has put out a plan. hi put
the president's going to have to raise it, and the debt ceiling is not the problem. the problem is the debt and the spending that's driving the debt. and so the number one thing is to avoid, "a," the notion that speaker boehner can trot down to the white house and somehow we can solve the nation's problems or, "b," that we want do this at the 11th hour at all. instead we want our congress and our president to do their job. and i for one believe that in moments like this,...
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Jan 11, 2013
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next month, congress will be asked again to raise the debt ceiling. most republicans will oppose that acting for definite spending cuts before more borrowing. does the president care? >> the only viable option here is congress to fulfill -- that congress fulfills its responsibility and ensures that the united states of america pays its bills as it has always paid its bills through the its history. >> bill: just shut up and pay. all right? don't be asking for anything, just pay. it's mr. obama's way or the highway. again, he could use an executive order to ignore the debt ceiling and i will not be surprised if he does. so, what we have here is not a failure to communicate as they once said in the movie cool hand lou. but a president who believes he can do what he wants to do with little accountability. he has already signed executive order changing immigration rules. that was done in the middle of the night. few even know about it if this continues there will be a constitutional crisis in america. unfortunately we the people are slow to understand what
next month, congress will be asked again to raise the debt ceiling. most republicans will oppose that acting for definite spending cuts before more borrowing. does the president care? >> the only viable option here is congress to fulfill -- that congress fulfills its responsibility and ensures that the united states of america pays its bills as it has always paid its bills through the its history. >> bill: just shut up and pay. all right? don't be asking for anything, just pay. it's...
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Jan 9, 2013
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that means we'll actually hit the debt ceiling there. meaning anybody with any kind of romantic life will notice. >>> and later, meeting with joe biden at the white house, and in the rewrite tonight, why has no one mentioned me to take john kerry's senate seat when he gets confirmed as secretary of state. do i have to do everything myself around here. krystal, do i? >> no, i have been talking about you from day one. >> all right, well, that is going to be in the rewrite. this was the hole my waist was on. but since i've been on alli, am i on this one? nope. am i on this one? no, no, no, no, no. i am on this one. [ male announcer ] for every 2 pounds you lose through diet and exercise alli can help you lose one more by blocking some of the fat you eat. simple. effective. belt-friendly. let's fight fat with alli. learn more, lose more at letsfightfat.com. >>> the greatest governor of all time, i mean the greatest, i don't mean just state, i mean colonial governors, the greatest governor in the history of governors. massachusetts governor d
that means we'll actually hit the debt ceiling there. meaning anybody with any kind of romantic life will notice. >>> and later, meeting with joe biden at the white house, and in the rewrite tonight, why has no one mentioned me to take john kerry's senate seat when he gets confirmed as secretary of state. do i have to do everything myself around here. krystal, do i? >> no, i have been talking about you from day one. >> all right, well, that is going to be in the rewrite....